1. The issues that land buyers shall pay heed to include the following items:
(1) Applicants shall at first check landforms, locations and current status of the lands, and their boundary lines; it will be better for applicants to make an application to land offices for cadastral map transcripts and an application to the construction management agency for urban planning maps, and then make an overlay map in order to verify whether such lands are reserved for public facilities. The land registration transcript shall also be checked thoroughly.
(2) Sales agreements shall be entered with landowners or land administration agents duly authorized by landowners, or such sales agreements will be invalid. If there is a mortgage attached to such lands, buyers must require landowners to cancel such mortgage within the specified time, or the seller will possibly not perform his/her duties after the buyer settles the payment.
(3) Applicants shall confirm restrictions on the use of lands, such as the zoning of residential, commercial, or industrial areas, etc. According to regulations, different building coverage ratios and floor area ratios apply for different uses. When applicants buy farms, the certificate of farming for agricultural lands or the certificate confirming the legal use of cultivation lands shall be attached.
(4) Applicants shall determine land prices with reference to the strike prices of nearby lands or current prices announced by the government in the same year. If there are surface rights or pawning rights attached to such lands, or there are lease contracts entered in accordance with the 37.5% Arable Rent Reduction Act, or lease contracts for building construction entered for such lands, such owners of surface rights / pawning rights, or tenants shall have the right of first refusal to purchase such lands.
2. The issues that land sellers shall pay heed to include the following items:
(1) Sale prices may be determined with reference to publicly announced current prices or prices of nearby land lots.
(2) According to relevant tax regulations, land value increment tax shall be borne by sellers. Land value increment tax is calculated according to the total price increment of lands, and if there is no increment, no such increment tax will arise from the transaction of lands.
3. Limit of time for application of registration:
According to the laws of our country, the transaction and transfer of real estate is effective since registration; therefore, buyers and sellers shall go together to the land office to apply for the registration of ownership transfer within one month after the buyers and sellers have entered contracts, so that the rights of buyers will be protected and no overdue penalty will be levied for application delay.
